What is Contractor's Bond? First, we should know about bond itself. There are some definitions that you can find on the Internet In finance, according, en.wikipedia.org, a bond is an instrument of indebtedness of the bond issuer to the holders. It is a debt security, under which the issuer owes the holders a debt and, depending on the terms of the bond, is obliged to pay them interest (the coupon) or to repay the principal at a later date, termed the maturity.
According to.investopedia.com, it is a debt investment in which an investor loans money to an entity (corporate or governmental) that borrows the funds for a defined period of time at a fixed interest rate. Bonds are used by companies, municipalities, states and U.S. and foreign governments to finance a variety of projects and activities. No contractors would like to use this definition if they are familiar with multimedia, but know nothing about finance. Making money online? This is disjointed, isn't it?
Skyfall has nothing to do with why debt becomes unsecured, why you have to borrow the funds for a defined period of time and why you have to be contractor. That's the latest of James Bond movie, the twenty-third film produced by Eon Productions. It was distributed by MGM and Sony Pictures Entertainment in 2012..
Surely there's no joke about money, debt security, obligation to pay someone interest or something called term the maturity and so on. According wisegeek.org, a contractor's bond is a financial assurance that a contractor will complete a job to a client's satisfaction. If a contractor fails to complete a job as expected, the agency that issued the bond will provide a pay out to compensate. It is not you pay someone to accompany you watching movie or enjoying a music concert. That's not funny!
